DoorDash, Inc. Class A Common Stock (DASH)
Profitability ratios
Return on sales
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit margin | 47.94% | 47.01% | 46.24% | 45.47% | 46.78% | 46.86% | 46.33% | 46.03% | 45.63% | 45.50% | 47.09% | 49.23% | 51.81% | 52.17% | 52.35% | 52.69% | 51.76% | 52.60% | 51.72% |
| Operating profit margin | 1.60% | -0.34% | -2.38% | -4.76% | -5.15% | -6.68% | -9.50% | -12.67% | -14.47% | -15.80% | -14.94% | -12.38% | -9.95% | -9.21% | -13.23% | -12.93% | -11.44% | -15.11% | -12.10% |
| Pretax margin | 3.31% | 1.45% | -1.57% | -3.99% | -4.47% | -6.18% | -12.93% | -16.73% | -19.23% | -21.25% | -14.72% | -12.29% | -9.89% | -9.47% | -13.62% | -13.50% | -12.19% | -15.87% | -12.69% |
| Net profit margin | 3.02% | 1.15% | -1.69% | -4.24% | -4.61% | -6.47% | -12.85% | -16.52% | -19.03% | -20.69% | -14.43% | -12.06% | -9.85% | -9.57% | -13.71% | -13.62% | -12.27% | -15.97% | -12.78% |
Analyzing the profitability ratios of DoorDash, Inc. Class A Common Stock over the period up to September 2024 reveals several noteworthy trends.
Gross Profit Margin:
The gross profit margin has remained relatively stable throughout the period, with values fluctuating narrowly around the mid-40s to low-50s percentage range. It started at approximately 51.72% on September 30, 2020, reaching a peak of 52.69% in June 2021, before gradually declining to a low of 45.50% at the end of 2022. From early 2023 onward, the gross profit margin has shown modest recovery, reaching 47.01% in December 2024 and continuing to improve slightly by March 2025 to 47.94%. This stability suggests controlled cost of goods sold relative to revenue, though there has been minor compression likely reflecting competitive pressures or rising costs.
Operating Profit Margin:
The operating profit margin has shown significant improvement from deep negative figures. Beginning at -12.10% in September 2020, it generally trended upward, with fluctuations, until reaching -14.94% on September 2022. The most notable change is the consistent positive movement starting around late 2023, culminating in a marginally positive 1.60% in March 2025. This transition from negative to positive margins indicates a significant improvement in operational efficiencies and cost management, enabling DoorDash to move toward profitability at the operating level.
Pretax Margin:
Similar to operating margins, pretax margins have improved markedly over the period. Initially negative at -12.69% in September 2020, they steadily increased over time, with some fluctuations, and turned positive at 1.45% in December 2024, rising further to 3.31% by March 2025. This enhancement demonstrates that the company is not only improving its core operations but also managing other expenses, interest, and taxes effectively to move into profitability pre-tax.
Net Profit Margin:
The net profit margin exhibits a trend comparable to pretax margins, moving from negative territory at -12.78% in September 2020 toward positive figures. Initially, the margin persisted in the negative, reaching as low as -20.69% at the end of 2022. From late 2023 onward, the net margin has shown a clear trajectory of recovery, turning positive at 1.15% in December 2024 and further increasing to 3.02% by March 2025. This overall trend indicates that DoorDash's profitability is improving across the board, with costs and expenses increasingly aligned with revenue growth.
Summary:
Overall, DoorDash has demonstrated a clear trajectory toward improved profitability ratios. While initial margins in 2020 were deeply negative across operating, pretax, and net profit measures, the company has gradually reduced these losses and moved into positive territory by the end of 2024. The stability of gross margins alongside steady improvements in operating and net margins reflect ongoing operational efficiencies and a potentially sustainable pathway to profitability. However, at various points prior to 2024, profitability was elusive, underscoring ongoing challenges in cost control and market competition, which are gradually being addressed as evidenced by the shifts into positive profit margins.
Return on investment
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating return on assets (Operating ROA) | 1.33% | -0.28% | -1.97% | -3.86% | -4.10% | -5.32% | -7.73% | -10.14% | -10.74% | -10.62% | -9.48% | -7.03% | -7.68% | -6.61% | -9.48% | -8.70% | -6.98% | -6.86% | -9.32% |
| Return on assets (ROA) | 2.50% | 0.96% | -1.40% | -3.44% | -3.67% | -5.16% | -10.46% | -13.23% | -14.13% | -13.91% | -9.16% | -6.85% | -7.61% | -6.87% | -9.83% | -9.17% | -7.49% | -7.26% | -9.85% |
| Return on total capital | 2.65% | -0.49% | -3.22% | -6.41% | -6.70% | -8.48% | -17.47% | -20.97% | -21.49% | -20.71% | -13.08% | -9.33% | -11.16% | -9.62% | -12.82% | -11.47% | -8.76% | -9.06% | -18.07% |
| Return on equity (ROE) | 4.04% | 1.58% | -2.27% | -5.68% | -6.00% | -8.21% | -15.96% | -19.86% | -20.91% | -20.17% | -12.82% | -9.18% | -11.16% | -10.03% | -13.39% | -12.28% | -9.70% | -9.81% | -19.75% |
The provided data details the evolution of DoorDash, Inc. Class A Common Stock's profitability ratios over multiple periods, showcasing a gradual trend toward improving profitability metrics.
Operating Return on Assets (Operating ROA):
The Operating ROA values have consistently been negative throughout the observed periods, indicating that the company's core operational activities have not generated positive returns relative to its assets. Initially, as of September 30, 2020, the ratio was at -9.32%, with minor fluctuations over the subsequent quarters, reaching as low as -10.74% on March 31, 2023. Notably, by September 30, 2024, the Operating ROA improved to -1.97%, and further advanced to a positive 1.33% by March 31, 2025, signaling a significant enhancement in operational efficiency and profitability.
Return on Assets (ROA):
Similar to Operating ROA, ROA has historically been negative, reflecting downside earnings relative to total assets. Starting at -9.85% on September 30, 2020, it declined further to a low of -14.13% in March 2023. However, a marked upward trajectory is observed from September 2024 onward, culminating in a positive 2.50% by March 2025, suggesting improved net profitability and asset utilization in recent periods.
Return on Total Capital:
This metric mirrors the directional trend observed in ROA figures. The ratios have been predominantly negative, reaching as low as -21.49% on March 31, 2023. Recent data shows a notable recovery, with the ratio rising to -0.49% as of December 31, 2024, and moving into positive territory at 2.65% for March 2025. This indicates that the company is increasingly capable of generating returns on both debt and equity employed.
Return on Equity (ROE):
ROE has experienced a substantial turnaround over the observed period. It initially remained highly negative, with figures such as -19.75% on September 30, 2020, and worsening slightly before improvement trends emerged. By September 30, 2024, the ratio neared break-even at -2.27%, and by March 31, 2025, it turned positive at 4.04%. This transition reflects a significant enhancement in the company's net profitability attributable to shareholders, possibly driven by operational improvements, efficiency gains, or strategic adjustments.
In conclusion, while DoorDash, Inc. historically experienced negative profitability ratios, indicative of operational losses and challenges in generating net earnings relative to its assets and capital, recent periods demonstrate a clear recovery trend. The shift into positive territory for several ratios underscores ongoing improvements in operational efficiency and profitability, suggesting a positive outlook for the company’s financial performance moving forward.
See also:
DoorDash, Inc. Class A Common Stock Profitability Ratios (Quarterly Data)